BERWYN, Pa.--(BUSINESS WIRE)--Triumph Group, Inc. (NYSE:TGI) announced today that it was awarded two contract extensions from General Dynamics Ordnance and Tactical Systems for the production of specially machined guided missile parts. The contracts, which are expected to generate sales totaling more than $11 million, are for machining and forging of parts and components on the Lockheed Martin HELLFIRE Romeo guided missile systems. The production will take place at the Triumph Aerospace Structures’ specialty machining facility in Albany, Oregon.
Triumph is one of an extremely limited group of suppliers capable of performing the machining and forging work needed to produce the main and precursor charge liners used on the HELLFIRE Romeo. The company originally secured the contract with General Dynamic Ordnance and Tactical Systems in 1994 and served as the sole supplier for the parts until 2017 when a second source provider was mandated. Since then Triumph has maintained more than 80 percent of the contract for the main liner and 100 percent on the precursor liner.
“We are pleased to continue to collaborate with General Dynamics Ordnance and Tactical Systems in support of the HELLFIRE Romeo missile program,” said Peter Wick, EVP of Triumph Aerospace Structures, “and we hope to support them on other missile programs that will benefit from the machining and forging expertise we offer.”
Triumph is also working with General Dynamics Ordnance and Tactical Systems to produce missile liners for other military missile system programs.
The military sector is an important growth area for Triumph Group and its three business units. In addition to being a superior supplier for General Dynamics missile program, Triumph also has significant content on programs such as the AH-64, KC-46, V-22, and F-35. The company has also been named as a major supplier for the Boeing T-X offering for the yet-to-be-decided U.S. Airforce trainer program.
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aircraft structures, components, accessories, subassemblies and systems. The company serves a broad, worldwide spectrum of the aviation industry, including original equipment manufacturers of commercial, regional, business and military aircraft and aircraft components, as well as commercial and regional airlines and air cargo carriers.
More information about Triumph can be found on the company’s website at http://www.triumphgroup.com.
Statements in this release which are not historical facts are forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995, including statements about expected future sales. All forward-looking statements involve risks and uncertainties which could affect the company’s actual results and could cause its actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the company. Further information regarding the important factors that could cause actual results to differ from projected results can be found in Triumph Group’s reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2017.